Australian Capital Territory Numbered Regulations

INSURANCE LEVY REGULATIONS (NO. 30 OF 1998) - SCHEDULE 1

    SCHEDULE 1     Regulation 4

ASSESSABLE PORTIONS OF PRESCRIBED PREMIUMS

Item	Class of insurance policy	Assessable portion
1	Insurance of property including— (a)     insurance against consequential loss; and (b)     insurance against static risks ; 1 but not including any insurance of a class specified elsewhere in this Schedule.	80%
2	Houseowners' and householders' insurance, however designated (buildings or contents or both).	50%
3	Personal insurance combined on personal jewellery and clothing, personal effects and works of art.	10%
4	Motor vehicle and motor cycle insurance.	2.5%
5	Marine and baggage insurance confined to— (a)     maritime perils; or (b)     risks involving transportation on land or in the air; including storage incidental to transportation by sea, land or air, but not including static risks . 1	1%
6	Combined fire and hail insurance on growing crops.	1%
7	Live stock insurance.	1%
8	Aviation hull insurance.	0%
9	Insurance solely covering loss by theft.	0%
10	Insurance solely covering plate glass.	0%
11	Insurance solely covering machinery, where confined to mechanical breakdown or consequential loss arising from mechanical breakdown.	0%
12	Insurance solely covering explosion or collapse of boilers or pressure vessels, where confined to damage other than by fire.	0%
13	Insurance solely covering inherent or latent defects in goods, where— (a)     the insurance is confined to damage or consequential loss arising out of defective design, defective workmanship or defective materials; and (b)     the insurance does not cover any damage or consequential loss arising from fire.	0%

Note

¹     Static risks include risks involving movements at any situation of any or all of the following:

(a)     goods;

(b)     stock;

(c)     material associated with processing or storage operations.